Date: August 1, 2026

Board Meeting Outcomes

  • The 41st Annual General Meeting was held on Saturday, August 1, 2026 through Video Conferencing
  • Chairman C S Rajan delivered the speech to members
  • The speech covered financial performance, macro economy, transformation strategy, and future outlook

Financial Results (Consolidated)

  • Consolidated Profit After Tax: ₹19,288 crore
  • Consolidated Net Worth: Increased 15% YoY to ₹1,81,113 crore
  • Book Value Per Share: ₹182
  • Customer Assets Under Management: Grew 12% YoY to ₹7,47,613 crore
  • Consolidated balance sheet crossed ₹10 lakh crore milestone

Financial Results (Standalone - Bank Level)

  • Profit After Tax: ₹14,008 crore
  • Net Interest Income: ₹30,010 crore
  • Net Advances: Grew 16% YoY to ₹4,96,009 crore
  • CASA ratio: 43.3%
  • Gross NPA: 1.20% (improved)
  • Net NPA: 0.25% (improved)
  • Capital Adequacy Ratio: 22.4%

Disinvestment / Strategic Actions

  • Signed definitive agreement to acquire Deutsche Bank's retail banking, private banking and wealth management businesses in India
  • Transaction subject to requisite approvals
  • As of March 31, 2026, these businesses served approximately 150,000 customers
  • Business includes: ₹29,000 crore of advances, ₹16,000 crore of deposits, and ₹10,500 crore of assets under management
  • Strategically complements Kotak's affluent and SME franchises
  • Expected to be value accretive with additional cross-sell opportunities

Subsidiary / Associate Update

  • Kotak Mahindra Capital Company Limited: Maintained leadership position
  • Kotak Securities: Strengthened competitive positioning and gained market share in both cash and equity derivatives segment
  • Kotak Mahindra Asset Management Company Limited: Delivered strong profitability despite market volatility
  • Kotak Alternate Asset Managers Limited: Remained one of India's largest domestic alternate asset managers, having raised approximately USD 11.5 billion since inception

Other Operational / Legal / Strategic Disclosures

Macro Economic Context:

  • FY 2025-26 marked by US trade policy uncertainty and geopolitical escalation in West Asia
  • Global economy remained resilient despite challenges
  • Inflationary pressures resurfaced towards year-end due to higher crude oil prices
  • India remained among fastest-growing major economies
  • Banking industry operated in challenging interest rate environment with credit growth outpacing deposit growth
  • Repo rate cut cycle impacted profitability as loan yields repriced faster than deposit costs, affecting NIMs

Business Strategy:

  • Diversified business model with four complementary engines: Banking & Lending, Capital Markets, Asset Management, and Protection
  • Transformation strategy anchored on three pillars: Focused Customer Segment Propositions, Independent Product Businesses within the Bank, and Technology, Digital and Artificial Intelligence
  • Progress measured through 4C framework: Customer, Company, Colleague and Community

Sustainability and Community:

  • Sustainability remains integral to long-term growth strategy
  • Focus on resource efficiency, sustainable finance and enhanced environmental data systems
  • Financial Inclusion programs with strong focus on women borrowers
  • CSR initiatives support education, healthcare, livelihoods, entrepreneurship, environment and sports

Awards and Recognition:

  • India's Best Bank for Large Corporates by Euromoney Awards for Excellence 2025
  • Kotak 811 ranked most downloaded banking app in India and third globally during H1 2025
  • Top 100 India's Best companies to Work For 2026
  • Top 50 India's Best Workplaces in BFSI 2026
  • India's Best Employers Among Nation-Builders 2026 by Great Place to Work India
  • ET Now Champions of CSR Award by ET Edge Global Sustainability Alliance
  • Ranked 3rd in Banking Sector for Sustainability Leadership among India's Top 50 Most Sustainable Companies